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Sexually Transmitted Diseases (STDs) refer to more than 25 infectious organisms that are transmitted primarily through unprotected sexual contact. Diagnostic testing helps in detecting STDs at an early stage and enabling timely treatment. Diagnostic tests for STDs include laboratory tests that detect antibodies or antigens linked to certain infections in blood or body fluids. The global Diagnostic Testing of STDs Market is estimated to be valued at US$ 10.4 Bn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased awareness about prevention of sexually transmitted infections
One of the major drivers propelling the growth of the diagnostic testing of STDs market is the increased awareness about the prevention of sexually transmitted infections through diagnostic screening. Various awareness programs conducted by governments and NGOs are educating people about safe sex practices and importance of regular checkups. This has increased the adoption of diagnostic testing among individuals with high-risk sexual behaviors or showing symptoms. The diagnostic tests help in quick diagnosis and treatment, further preventing the transmission of infections to other individuals. The growing knowledge about STDs is expected to drive the demand for diagnostic testing over the forecast period.
SWOT Analysis
Strength:
– Growing Awareness regarding STDs: Growing awareness among people regarding STDs has increased demand for diagnostic testing. This acts as a strength for the market.
Weakness:
– Social stigma associated with STDs: Social stigma associated with STDs discourage people from opting for diagnostic tests. This acts as a weakness for the market.
Opportunity:
– Emergence of novel diagnostic technologies: Emergence of technologies like PCR and immunoassays has improved accuracy of STD diagnostic tests. This presents an opportunity for market players.
– Growing demand in developing regions: Growing demand for STD diagnostic tests in developing regions like Asia Pacific and Latin America presents an opportunity for market players.
Threats:
– Availability of alternative treatment options: Availability of alternative treatment options like antibiotics, medications pose a threat to diagnostic testing market.
– Price sensitiveness: Diagnostic tests for STDs are often subject to pricing pressure which poses a threat for market players.
Key Takeaways
The global Diagnostic Testing of STDs market is expected to witness high growth.
Regional analysis comprises the North America market presently dominates the Diagnostic Testing of STDs market and is expected to continue its dominance during the forecast period. Factors such as growing cases of STDs, presence of advanced healthcare infrastructure and adoption of novel diagnostic technologies drive the North America market.
Key players operating in the Diagnostic Testing of STDs market are Vela Diagnostics USA Inc., Roche Holdings AG, Alere, Inc., Becton Dickinson & Company, bioMerieux, Danaher Corporation (Beckman Coulter), Hologic, Inc., binx health, Chembio Diagnostics, Pinpoint Science Inc., and bioLytical Laboratories. Key players are focusing on launch of innovative and accurate diagnostic platforms. For instance, in 2021 Roche launched cobas zika assay which can detect zika virus infection in pregnant women.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
